Friday 24 November 2017

Aer Lingus, Dublin Port and Bord Gais on State for sale list

DUBLIN Port and Aer Lingus have been identified in a list of the country's assets as suitable for sale.

Also included in the hit-list are parts of Bord Gais and the forestry agency Coillte.

However, the State's 25pc stake in Aer Lingus would likely raise less than €100m at the moment, making it unlikely it will be offloaded any time soon.

The schedule has been drawn up as part of the terms of the bailout agreed with the EU Commission, the ECB and the IMF (the Troika).

The Troika said last September it wanted €5bn raised as part of the bailout deal. Fianna Fail has expressed concern to the bailout delegation at the level of sales being planned.


Officials from six Government departments compiled the list of assets, which come on top of the possible sale of the minority stake in ESB.

Dublin Port would have a value of about €400m but a so-called fire sale is not envisaged as it would not secure the best value for the taxpayer.

The Troika is here to assess the Government's implementation of the €85bn bailout. A Fianna Fail delegation met the EU, ECM and IMF officials.

The party's public expenditure spokesman, Sean Fleming, said the TDs expressed concern at the level of sales of State assets being proposed.

"In response, the Troika made it absolutely clear that it has played no role and will play no role in setting targets for how much the country should raise through this process or what assets should be sold," Mr Fleming said in a statement.

"This raises some very uncomfortable questions for the Labour Party in particular, which has acceded to at least €2bn in sales and suggested to supporters and the public that its hand was forced by the Troika," Mr Fleming added.


Promoted articles

Entertainment News